Car loans and mortgages, question

[Trogdor]

Originally Posted by SLOW_V

Todor, no car business truly lose money on a deal... Other wise, they won't let you signed at the dotted line.

Actually, in the last few months, we've lost money on a couple deals where the customer wanted to return a car (we don't have a return policy on new cars) and we've allowed them to do that (and get different cars). This ends up costing us money. But we do it from time to time for customer satisfaction.

But that's splitting hairs. You're, for the most part, right. We're not losing money on 99% of our car deals. But my point is that the profit margin is better if you finance with is. Thus we have a financial incentive to offer you a better rate. I doubt it would sound good if I said, "Well Mr. Customer, one of the benefits of allowing us to find you financing is that we work with multiple lenders who will each pull your credit and give you a higher rate than your bank."

[Halon]

Originally Posted by Trogdor

Actually, in the last few months, we've lost money on a couple deals where the customer wanted to return a car (we don't have a return policy on new cars) and we've allowed them to do that (and get different cars). This ends up costing us money. But we do it from time to time for customer satisfaction.

You guys don't have a return policy? Then what's the 30 day policy you referred to in the past?

Originally Posted by Trogdor

Ok so, I decided to utilize my 30 day trade in over at WB Mitsubishi. I'm trading in the GTS for a Ralliart and eating the higher monthly payments.

[Trogdor]

Originally Posted by Halon

You guys don't have a return policy? Then what's the 30 day policy you referred to in the past?

We have a 7 day refund/30 day exchange on most of our used cars (all of them that are not being sold "as is"). But not on new cars. Like I said, once in a while we will allow people to bring them back after a short period of time. Depends on the situation.